Answer:
FOR LIFE INSURANCE DENSITY
Answer:
Explanation:
Trial balance :
In trial balance, there are two columns namely debit columns and credit columns. The total of debit and credit columns should always be matched.
The debit columns records assets and expenses side
whereas, the credit column record revenue, stockholder equity, and the liability side.
The preparation of the trial balance is presented in the spreadsheet. Kindly find the attachment below:
Profit centers use departmental income statements reports for effectively evaluating the performance of profit centers.
<u>Explanation:</u>
The success of manager in generating the income or profits are evaluated by a profit center.It uses the income statements reports for the purpose of evaluating the performance of profit center in an effective way. The segment that intakes cost and generates profits is an investment center. They are mainly responsible in the effective utilization of an organisation's asset.
An enterprise determines the performance of a profit center financially in absolute terms. It is the profit potential of the unit that determines the performance Managers. A manager of a highly profitable segment gain more success than the lower one.
Answer:
a. Steve will not have a capital gain in Year 1 for tax purposes.
Explanation:
Since Steve (the owner of Barb) sold his stocks to an ESOP (employee stock ownership plan), then he will be able to avoid capital gains taxes at least for the first year. ESOPs are qualified retirement plans and when they invest in stocks of the same sponsoring company, the transaction is not taxed if the seller reinvests (buys other stocks). As long as ESOP holds at least 30% of the company's stocks, then Steve can defer his taxes.
Answer:
attached below is the missing part of the question
$17000
Explanation:
1) calculate the cash dividends
= beginning earnings + net income for the period - ending retained earnings
= $44000 + $57000 - $68000 = $33000
2 ) calculate the amount of cash receipt from the sale of plant assets
first we will calculate the dep on sale of plant products
= beginning accumulated depreciation + depreciation expense - ending accumulated depreciation
= 22500 + 12000 - 24500 = $10000
next we calculate the cost of sale of plant assets
= beginning plant asset + acquisition new plant assets - ending plant asset
= $123500 + $29000 - $131500 = $21000
Hence the cash receipt from the sale plant assets = cost of sale of plant assets - dep on sale of plant products + gain on the sale of plant assets
= 21000 - 10000 + 6000 = $17000